MANILA, Philippines _ Nasdaq has opened a customer service centre in the Philippines in a coup for the country’s rapidly growing outsourcing industry.

The operator of the namesake U.S. stock exchange said Wednesday its first Manila office will be part of efforts to boost its 24-hour support services for corporate clients in 60 countries, particularly for its investor relations business. The office has 170 staff.

For foreign companies, the Philippines has become the go to country in Southeast Asia for call centres and outsourcing of back office business functions.

India’s outsourcing industry is also thriving as multinational companies seek to lower costs by basing some functions in countries with lower wages.

“This new opening boosts our presence in the region,” said Robert Frvjd, a Nasdaq executive.

Aside from its stock and futures markets in the U.S., the company has exchanges in Europe as well as stock index and trading technology businesses.